Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
Updated 8.45pm
A PARTY FOR entrepreneurs, a party for the people, a party without a whip system and, for now, without any policies – let us introduce you to Lucinda Creighton’s ambitious new plan.
Yesterday, the Fine Gael deserter announced that she will launch a brand new political party in eight weeks.
This party will be different from all the others. It will be based on “principles and based on clear values”, according to Creighton.
It does not have a name yet but the campaign to get people involved is called ‘Reboot Ireland’.
The four founding principles of the group are:
Joining Creighton at the marker Hotel in Dublin yesterday was economic commentator Eddie Hobbs and independent Offaly councillor John Leahy. Between the three of them, they attempted to explain to journalists what it was exactly that they were trying to do and made a call to the general public to step forward as candidates.
We learned Reboot Ireland recognises the value of foreign direct investment but is calling for a greater nurturing of indigenous Irish business. It wants to support Irish businessowners and employees, in every single sector whether private or public. And it will, at some stage, have defined policies – but every member will be free to express their own views on issues.
This new, as yet unnamed party, will aim to be different from all existing parties. Included in this is a determination not to be labelled either left or right-wing. Yes, really.
As Creighton told reporters yesterday:
I consider the old paradigms of left and right completely redundant. As far as I’m concerned the right wing model of an unbridled free market has completely failed, and equally I don’t think I need to explain how socialism has failed in the latter part of the last century.
“All politics parties base their policy making on focus groups and opinion polling, not on principles upon which policies are developed,” she added.
So, not only is the party leaning neither left nor right, it will be above political polls.
The former Fine Gael TD has always been clear on her own feelings about the whip system. It was this very rule that forced her out of the party when she voted against the Protection in Life During Pregnancy Bill because of her own views on abortion.
Allowing members of her new party a free reign is therefore paramount.
None of the Reboot Ireland members yesterday would be drawn to give their own opinion on the hot topics of the moment – gay marriage and repealing the 8th amendment.
“Our focus is very much on the next election,” Creighton said, though she reiterated that members will be encouraged to “know their own mind”. On the issue of a referendum to repeal the 8th amendment, Eddie Hobbs said it will be a “matter of conscious for each member,” adding that “it will not be whipped”.
This approach raises questions about how the party will ever manage to settle on policies and on stances to take on issues. And it stirs up the now all too familiar question about the whip system – can a party survive without it?
This new political party will have its work cut out for it until the next election. Though the group said it hopes to run at least one candidate in the next election, Hobbs said the party would need “approximately 200 people behind each candidate”.
According to Creighton, in the last nine months the group has managed to bring together 100 people. They will need to drum up some serious interest over the next year if they are to achieve their goal.
Their “blank canvas” is likely to appeal to many people, however. The three Reboot Ireland representatives are making all the right sounds – this is the kind of politics people have been screaming for. For the people, by the people.
Creating a new political party from grassroots up, with hundreds of people, is in itself an amibitious plan. On top of this, Ireland’s new political party will have to build policies that reflect the vastly differing views of all of its members and present a united front. Is this the radical shake-up Irish politics needs or is there a reason established parties have been doing things the same way for so long? Time will tell.
First published 7.45am
To embed this post, copy the code below on your site
If These parasitic agencies had their contribution to the global financial crisis rated it would be a triple A +.it is extraordinary that these dregs of morality ,along with the likes of Goldman Sachs can still hold sway in the the financial system and I say this as a firm believer in capitalism ! Great article Btw
Set up a Eurozone based Rating Agency.
Well Fitch are run by a french company
Joint headquartered in New York and London.
S&p had Lehmans at AAA up into the week that they actually went bust and left millions of creditors high and dry!!!!!
True. And why are we still hearing about their pronouncements on the news? Laziness from journalists, governments and bankers? If they were any good they’d be called “Excellent & Loaded” anyway
Only because the credit agencies base their ratings on factual information rather than government propaganda and governments can’t stand anyone who isn’t playing ball.
I assume you are looking for a reaction with that moronic comment , well you suceeded, troll!
No, the US was downgraded by S&P based on sound monetary data, whereas your comments are based on your ignorance.
Yes, they “eventually” started doing their Job, after playing their part in wrecking the world’s economy. Where was their “Data” when they gave triple A ratings to Billions of Dollars of subprime mortgages wrapped other good loans in the US. Of course this was insured by AIG in the form CDS’ that brought the biggest insurer on the planet to its knees, 85 billion to bail out Bear sterns ,200 Billion to bail out Fannie Mae /Freddie Mac , all because of subprime. Yes the banks were reckless but I wonder what their rating had been??? mmm. I suppose you heard there excuse in the congressional hearings, well of course you didn’t, anyway, it was that “we only give advice/guidance, it’s really up the institution what they do with it.
This is a country where there is now nearly a million people living in tents. And the behaviour off the Rating agencies, Financial was morally repugnant. Then we have monkey talk from the likes of you !
No McManus, you are displaying +your+ ignorance.
In contrast to member countries of the Eurozone, the US remains the sovereign issuer of its own (free floating) currency and because of this fact can never go bankrupt or default on debt denominated in US$.
When S&P downgraded US gov debt, thru’ some combination of political ideology & stupidity, the market interest rate did precisely nothing – +nada+. Indeed, given the even low rate of inflation the US gov can sell every $ of its debt, still, at an even lower rate of interest. Yes, buyers of US gov debt are actually +paying+ to hold it when inflation is taken into account.
Whilst the variously fraudulent, corrupt & ideologically motivated behaviour of the ratings agencies is a key (& unaddressed) part of the cause of the financial meltdown, it is only the tip of the iceberg.
Besides the control fraud (cf former US regulator William K Black) of the financial institutions, both in the US and Europe, we should also be demanding examination of the endemically flawed macro economics thinking that still ignores the effect of debt – indeed the function of banking itself – in its modelling of national economies. Ever wondered why the mainstream of economics had no clue the crisis was coming mere weeks before the crash? Or why the Eurozone is getting worse not better 5 years later?
Irish economists & commentators (with the exception of Dublin based writer Philip Pilkington) continue to be absolutely lamentable on these vital issues. Of course, with secure 6 figure salaries & guaranteed fat pensions, +they+ are not suffering are they?
If you want to find the facts of the intellectual bankruptcy endemic in mainstream macro economics (macro, because national economics is profoundly not like your household or business, despite all the BS from media etc. implying it is) you need to look outside Ireland. Readily available practical solutions are also discussed. (Yes, there are solutions that do not involve massive unemployment for decades & beyond.)
See Prof Bill Mitchell here:
http://bilbo.economicoutlook.net/blog/
Good articles here:
http://www.nakedcapitalism.com/
And Prof Steve Keen here;
http://www.debtdeflation.com/blogs/
It takes a little time and study to discover the truth in macro economics. But surely we owe it to our children to find out, if not for ourselves. We will not be gifted the solutions that are readily available. The present system is a lie from start to finish, that serves to enrich the top few percent, at the expense of the rest of us, thru’ the creation of both booms & busts.
A good article by Hugh O’Connell here, but there is so much more needs fundamental examination & reform including the Euro structure itself.
S&P are number crunchers that’s all, they do what they do for their clients. Governments oversee financial regulation and dictate financial policy, so stop shooting the messenger! It’s beginning to sound like late Weimar Germany around here with the level of wingnut economic theory being flung about. Corruption and cronyism in politics, get-rich-quick economic policy, war mongering abroad, all must be paid for at the end and the chickens have come home to roost for America.
I know something about the “Pillars of Society’ that you don’t. Further details by searching in Google for ‘ Devrajan Hanna Butler Foley’
Cheers
The Common Informer
People need to understand that Ratings Agencies use historical data (good or bad) so they are after-the-fact telling us what is wrong. They cannot predict. The reason they are still viewed as important is that the prospectuses of funds tends to state that the funds cannot invest in shares/stocks etc less than X or Y rating which is purely a marketing exercise. They serve no real purpose other than marketing/political purposes and anyone who uses them as a benchmark is crazy/delusional.
have your say